What global pledge was made regarding nuclear power capacity at COP28?

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Global Leaders Pledge to Triple Nuclear Power Capacity by 2050

At COP28 in Dubai on December 2, 2023, 25 world leaders made a significant commitment to triple global nuclear power capacity. This pledge aims to increase capacity from the current level of 400 GW to nearly 1200 GW by the year 2050, marking a substantial expansion of the nuclear energy sector.
Mobilisation of Financial Support

Following the leaders' pledge, 14 major global financial institutions formally declared their support for the international commitment. This endorsement is crucial for unlocking and mobilising private sector finance, which is essential for funding the expansion of the nuclear industry. The involvement of these institutions signals a move towards greater investment in nuclear power as a component of global energy strategies.
Accelerating Zero-Emissions Electricity

The primary objective behind this tripling of nuclear power capacity is to accelerate the generation of zero-emissions electricity. By expanding nuclear energy, nations aim to complement renewable energy sources and ensure a more robust supply of clean power. This initiative is directly linked to meeting ambitious global net-zero climate goals, underscoring the perceived role of nuclear power in decarbonisation efforts.
Supporting Net-Zero Climate Goals

The commitment to triple nuclear capacity is intrinsically tied to achieving global net-zero climate targets. Nuclear power is viewed as a reliable, low-carbon energy source that can provide baseload electricity, thereby supporting the integration of more variable renewable sources like solar and wind. This dual approach, combining renewables with nuclear power, is seen by signatories as a pragmatic pathway to decarbonise the electricity sector and meet climate objectives by 2050.

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What global pledge was made regarding nuclear power capacity at COP28?

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